27 Sep, 2018/ by Homeward Legal /First Time Buyer
Bradford is the cheapest UK city for first-time buyers, according to new research. The average house in the West Yorkshire city sells for £113,500, less than a quarter of what a first-time buyer would have to fork out for a property in London.
Yorkshire-based estate agents Manning Stainton analysed data from the Land Registry and from online estate agent listings site Zoopla to uncover the cheapest and most expensive cities to buy in the UK.
The Metropolitan Borough of Bradford came in at No.1 on the list of the top 10 cheapest places, while London naturally was way out in front in No.1 spot in the most expensive places to buy for first-time buyers where an average home will cost £566,000.
Mark Manning, managing director of Manning Stainton, said: "This research demonstrates the huge differences in property prices that first-time-buyers across the UK are faced with, with those in the capital having to pay almost five times more for a property than those looking to buy in Bradford.
"It's no wonder first time buyer numbers are falling in the capital and more people are choosing to re-locate north to get a foot on the ladder."
The top 10 cheapest places to buy in the UK for first-time buyers, with the average price of property, are:
- Bradford, £113,500
- Liverpool, £149,000
- Glasgow, £155,000
- Manchester, £161,000
- Sheffield, £170,000
- Nottingham, £170,500
- Birmingham, £171,000
- Newcastle, £179,000
- Coventry, £180,000
- Leeds, £184,000